Bitcoin Exchange Gemini to Insure Users’ Assets
Gemini exchange, founded by Cameron and Tyler Winklevoss, has announced that it obtained insurance coverage for the digital assets it holds in custody, CoinDesk reports.
Gemini Trust Company notes that insurance services will be provided by Aon global company. The latter also provides “a broad range of risk, retirement and health solutions.”
According to exchange’s representatives, Gemini managed to assure the underwriters that it was a “”leading, best-in-class exchange and custodian.” Gemini head of risk Yusuf Hussain highlights that the users need the same level of insurance protection that traditional financial institutions have.
To recap, Gemini exchange announced launch of USD-backed stablecoin Gemini Gollar (GUSD) last month.